AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Blue Sky Alternative Investments Ltd (ASX:BLA) announced on 28 September 2018 that its securities will be placed in trading halt. In the past one year the company placed its securities in trading halt at many occasions. However, on this occasion it is expected to be a positive for the long-suffering shareholders of the company. According to the announcement, the trading halt is requested pending an announcement by the company about the details of a material transaction with Oaktree Capital Management which is a leading alternate asset management company. In the Blue Skyâs strategic update, it is mentioned that that the company is progressing with a strategic partnership with Oaktree Capital which will represent a significant vote of confidence in Blue Skyâs strategic direction, investment teams and newly implemented operational infrastructure. The key terms of capital partnership with Oaktree Committee includes an investment in Blue Sky of around $60 million through a convertible note facility and the proceeds will be used to fund co-investment and working capital requirement. The conversion right is capped at 30 percent of the issued share capital and aspects of the conversion rights are subjected to shareholders approval. Blue Skyâs shares are expected to return for trading by 1 October 2018. [optin-monster-shortcode id="wxhmli4jjedneglg1trq"]
In FY2018, the companyâs net loss after tax was $85.6 million which is reflecting a significant disruption to operations, asset review and business restructure. The operating revenue of the company decreased from $68 million in FY2017 to $24.9 million in FY 2018. Due to the business disruptions and consequential restructure the operating expenses of the company increased from $46.1 million to $98.2 million.
In FY2019, the company is planning to complete the corporate structure and engage with strategic partners. The company is planning to establish group investment committee and have a consistent in investment discipline across the globe. By the end of 30 June 2018, the company was having cash of $40 million with no corporate debt.
BLA shares last traded at $1.585 with a market capitalization of $122.89 million.
The Income available from dividends remains attractive for many investors.
We take a look at the best yields on the market and assess what they say about a companyâs prospect.
One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkineâs team of analysts bought you handpicked report for âTop 25 Dividend Stocks For 2018.â
ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.
Click here to get your free report.
Disclaimer
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.
